Oak Ridge Financial Services, Inc. (NASDAQ CM: BKOR), the holding
company for Bank of Oak Ridge, today reported first quarter 2009 net
income of $100,000, compared with net income of $61,000 for the same
period in 2008. First quarter 2009 loss available to common stockholders
was $8,000, compared to income available to common stockholders of
$61,000 for the same period in 2008. First quarter 2009 diluted earnings
per share were $0.00, compared to diluted earnings per share of $0.03
for the same period in 2008.

Oak Ridge Financial Services President, Ron Black, in commenting on the
results, noted, “Given the difficult economic environment, we are
pleased with our profitability in the first quarter of 2009. During the
first quarter our primary focus was servicing our loan portfolio, and
although our level of nonperforming assets increased from December 2008,
we believe that our efforts will pay off in subsequent quarters. Our
primary areas of focus for the rest of 2009 will be continuing to
service our loan portfolio and growing net interest income and
noninterest income by providing extraordinary service to existing and
prospective clients. We plan to continue to support our local economy by
taking deposits, making loans, and providing financial advice for our
clients in these difficult times. The community was incredibly
supportive of our Bank in the first quarter and we had significant
increases in loans, deposits and noninterest income. Lastly, at March
31, 2009 we were well-capitalized with ample capital for future growth. ”

About Bank of Oak Ridge

Bank of Oak Ridge, headquartered in Oak Ridge, NC, is a community Bank
with five locations in Oak Ridge, Summerfield and Greensboro. The Bank
offers a complete line of banking and investment services, including
savings and checking accounts, mortgage and business loans, extended
weekday and Saturday branch banking hours, same-day deposits, cash
management services, business and personal internet banking with balance
alerts and reminders, internet bill payment, mobile banking and accounts
designed specifically for seniors, small businesses and civic
organizations. For more information, contact Bank of Oak Ridge at
336-644-9944, or visit www.bankofoakridge.com.

Forward-looking Information

This form contains certain forward-looking statements with respect to
the financial condition, results of operations and business of the
Company.These forward-looking statements involve risks and
uncertainties and are based on the beliefs and assumptions of management
of the Company and on the information available to management at the
time that these disclosures were prepared. These statements can be
identified by the use of words like “expect,” “anticipate,” “estimate”
and “believe,” variations of these words and other similar expressions.Readers should not place undue reliance on forward-looking statements
as a number of important factors could cause actual results to differ
materially from those in the forward-looking statements.Factors
that could cause actual results to differ materially include, but are
not limited to, (1) competition in the Company’s markets, (2) changes in
the interest rate environment, (3) general national, regional or local
economic conditions may be less favorable than expected, resulting in,
among other things, a deterioration in credit quality and the possible
impairment of collectibility of loans, (4) legislative or regulatory
changes, including changes in accounting standards, (5) significant
changes in the federal and state legal and regulatory environment and
tax laws, (6) the impact of changes in monetary and fiscal policies,
laws, rules and regulations and (7) other risks and factors identified
in the Company’s other filings with the Federal Deposit Insurance
Corporation.The Company undertakes no obligation to update any
forward-looking statements.